(CNN) -- A consultant for the Indian Grand Prix remains confident the race has a future, despite admitting it is unlikely to take place in 2014.
Formula One supremo Bernie Ecclestone cast doubt over the future of the race at the Hungarian Grand Prix by saying,"Is India going to happen next year? Probably not."
Karun Chandhok was a driver for the HRT team in 2010 and is the son of the Federation of Motor Sports Club chief Vicky Chandhok.
While saying it would be a shame to lose the race which only made its F1 debut in 2011, Chandok is confident there is a future for elite motorsport at the Buddh International Circuit.
"It'll be a shame if we do lose the grand prix, there's no question about it," Karun Chandhok told CNN.
"One scenario we are trying to evaluate is if we have to miss out on 2014 to then try and extend the existing contract, which is for five grands prix.
"Take a sabbatical for a year and try and solve these issues, whatever they may be, ahead of 2015 and 2016."
Chandhok and his father have held talks with Ecclestone, who they believe remains keen on keeping F1 in India.
But competition for a spot on the sport's world tour is fierce, with grands prix in New Jersey and Russia set to debut in 2014.
"Bernie is spoiled for choice," added Chandhok. "I think Formula One is in demand. You've got Sochi coming on, Austria's already been announced.
"We both spoke with Bernie. He likes India, he likes the Indian Grand Prix, he would like to see it carry on. There are a few issues and hurdles that need to be crossed."
"It'll be a shame if we do lose the grand prix, there's no question about it. There's been a huge amount of work that has gone in to getting us where we are today."